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COND4MINIUM RIDER
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~ THISCONDOMINIUM RiDER IS 1118dC II115 14TH day of APRIL
19 78 . and is incorporatcd into and shall bc decmed ta amcnd and suppl~mcnt a Mortgage, Dccd oi Trust or Deed
to Secure Dcbt (hen:in "security instrumcnt") dated o[ cven datc hercwith, gi~ren hy thc undersigncd (herein
"Borrowcr") to sccurc Borrowcr's T~totc to
HOUSINO INVESTMENT CORPORATION OF FLORIDA ~
(hcrein "Lender') and covcring the Propc~ty describcd in thc sccurity instrument and .
lacatcd at
ROUTE 2, HII3HWAY AlA, JENSEN BEACH, FLORIaA 33457
IProDMtY Add+~ss) . . .
Thc Property compriscs a unit in. togetf~cr with an undivided intcrest in thc ccimmon elements of. a condominium ;
projcct known as ;
VIL.LA DEL SOL, INC., A CONDOHINIUM . ~
(Nam! W Condominium Projett)
(hcrein "Condominium Projcct"). ~
CONDOMINIUM COVENANTS. Itl 8(Idlti00 to thc covcnants and agrccmcnts madc in the sccurity instrument, ~ ~
Borrowcr and Lendcr funhc~ cavcnant and agrec as follows:
A: Assessmeqts. Borrowcr shall promptly pay, whcn duc, all asscssments imposcd by the Owners Association
or othcr governing bociy of tlx; Condominium Project (hcrein "Owncrs Association") pursuant to thc provisions of the
dcclarstion, by-laws, ccxic of rcgulations ~r othcr cahstituent dacumcnt of thc Condominium Project.
B. Hazard Iasarance..Sc~ lang ac thc.Owncrs Association maintains a"mastcr' or "blanket" policy on the .
Condominium Project which provides insura~cc covcrage against fire, hazards included within the term "extended
covcrage; ' and such other hazards as l.cndcr may requirc, and in such amounts and for such peiiods as Lender may
rcquirc, then:
(i) Lcndcr waivcs thc provision in Uniform Covcnant 2 for thc monthl~~ payment to Lender of one-twelfth `
cf the prcmium installmcnts for hazard insurancc on thc Propcriy; ~
(ii) Borrowcr's obligation undcr Uniform Covcnant S to maintain hazard insurancc covcragc on the
Propcrty is decmcd satisficd; and
(iii) the pimvisions in Uniform Covcnant 5 rcgarding appticatii~n of hazard insurance proceeds shal! be
supcrxdcd by any provisions c~f thc dcclaration, by-laws, cc~dc of rcgulatians or othcr cvosiitucni documcnt of thc
Cc~nduminium Pmjrct :x of applicablc law tci thc rxtcnt ncccssary tu a1uid a con8ict betwccn such provisions anc{ '
thc pravicions of Uniform Cov~nant S. - For any pcricxl af timc during which such hazard insurance ~ovcragc is not ;
maintaincd, the immediatcly preccding scntcncc shall hc dc~emcd to havc no force or effect. Bormwcr shall givc '
Lcndcr prompt noticc of any lapsc in such hazard insurancc covcragc. - '
ln thc cvcnt of a distribution of hazard insurancc prc~c~-eds in licu of restoration or rcpair following a loss to
thc Propcrty, whcthcr tn thc unit i~r ti~ common ckmcnt~, any such procccds payabk to Borrowcr arc hcrcby assigncd
and shall bc paid to landcr for applicatiun to thc sumc sccurcd by thc sccuriry instrument, with thc cxccss, if any,
paid to Bc~rrowcr. ~ ~
C. Lender's Prior Coasenl. Borruwcr ~hall nc~t, cxccpt :~ftcr noticc ta Lc~dcr and with Lrndcr's prior wriucn
conscnt, partiti~~n or subdividc thc Propcrty ar consent to:
(i) thc aband~~nmcnt or tcrmination of thc C~mduminium Project, cxccpt for abandonment or tcrmination
provided by !aw in the case ~of substantial d~~structi~n by fire or oth~:r casualty ~r in the case of a taking b~ condemnation
c~r cmincnt domain: ~
(ii) an~• matcrial amcnJmcnt to thc dcclaration, by-laws or codc of rcgulations of the Owncrs Assc~ciation, .
or cquivalcnt c~nstitucnt dcxumcnt of thc Condominium Proj~.-ct, including, but not limited to, any amcnJmcnt v?•hich
wuuld changc thc pcrccntagc intcrests of thc unit ow•ncrs in thc Condominium Prujcct; or
(iii) thc cficctuation i+f any dccision h~• tlx (hvncrS Associatic~n to tcrminatc profcssiona! msnagcmcnt and
a.sumc sclf-managcmcnt ~if ~tk Cun~ic~minium Prujt-~:t. "
D. Remedies. If Borruwer brcaches Bvrrow~er's corenasls and ~rremeats bereunder, inclnding the covenant .
to pa~- w~ben dne condominiurn ~ssessments, Ihen I,ender mar iavoke. anr rcmedies provided uodcr Ihe secwrit~° .
imlrvment. incladipR. but aot limited !o, thost pmvided under Uniforo Covenaa/7.
IN WITNESS WHEREOF, Borrowcr has exrcuteJ this Condaminiu I~idcr. ~
FILEO AND RECOROEO :
=T. LUCtE COilNT1? F1A. ' ;
ItOCEA P01TR~5 ~ ^ h
CIERK CIaCUI? CO T ;
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.~lNi I IZ 34 ~ MARK WOLFE , ~ ~ ~ -eon'°••~• ~
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NIC~LE WO FE ~O"O""
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CONDOMINIUM RIOER-1 ~0 4 F~,+h-6' 75-fitMA/fMLYC UNIFONf tIfSTRUMENT
eo+esauo~*eo sus~w[as row?.s, ~~e.
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